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Native Americans developed an agricultural method using the Three Sisterscorn, squash, and beanswhich became the core of their diet. The beans increased the level of nitrogen in the soil. The corn requires high levels of nitrogen and provides a support for the beans to climb and receive more light. The large leaves on the squash shade the ground and limit weed growth. This agricultural method:
Market Equilibrium
A market state where the quantity demanded equals the quantity supplied, leading to no pressure on the price to either rise or fall.
Good
A material item or service that satisfies a want or need and is available for sale or trade.
Deadweight Loss
Deadweight loss represents the efficiency lost to an economy because of market inefficiencies or interventions, where resources are not allocated optimally.
Consumer Surplus
The misalignment between the price consumers are willing to allocate for a good or service and the price they actually allocate.
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